Axe FX III as MIDI interface for external devices?

Can the Axe III serve as a MIDI interface for connecting external devices to a PC? That is, can MIDI messages received at the Axe's input be seen by software (e.g., DAW, editors for other hardware, etc.) running on a USB-connected computer a connected to the Axe, and conversely can the Axe pass MIDI messages generated on the PC onward to the connected device(s)?

To illustrate, I'm trying to set up my FCB1010 for use with the Axe III. I want to use a software editor to configure the FCB, as programming on the device itself is a major hassle. But I can't get the FCB to communicate with any programs on the PC -- it seems all messages only go so far as the Axe itself, and aren't passed onward. I suspect I'm doing something wrong, in which case any input would be appreciated (for what its worth, I'm able to connect the FCB to software via my Saffire Pro 40 interface).
 
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